To Say That a Price Ceiling Is Binding Is to Say

question 111

Multiple Choice

To say that a price ceiling is binding is to say that the price ceiling

• A)results in a shortage.
• B)is set below the equilibrium price.
• C)causes quantity demanded to exceed quantity supplied.
• D)All of the above are correct.

---

Definitions:

Message Points

Key pieces of information or arguments that are central to the message being communicated.

Sales Receipts

Documents that provide proof of a transaction between a seller and a buyer, detailing the purchase of goods or services.

Adjustment

The process of modifying or altering something to achieve a desired fit, function, or outcome.

Claim

A statement or assertion, often in the context of an argument or dispute, that something is the case.